Boyd Gaming Co. (NYSE:BYD) Shares Bought by GAMMA Investing LLC

GAMMA Investing LLC grew its position in Boyd Gaming Co. (NYSE:BYD) by 10,962.4% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 50,887 shares of the company’s stock after purchasing an additional 50,427 shares during the period. GAMMA Investing LLC’s holdings in Boyd Gaming were worth $3,350,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in BYD. CoreCap Advisors LLC raised its position in shares of Boyd Gaming by 91.0% during the 4th quarter. CoreCap Advisors LLC now owns 573 shares of the company’s stock valued at $42,000 after buying an additional 273 shares during the period. Investment Counsel Co. of Nevada purchased a new position in Boyd Gaming in the fourth quarter worth approximately $73,000. Allworth Financial LP increased its stake in Boyd Gaming by 2,735.1% during the fourth quarter. Allworth Financial LP now owns 1,049 shares of the company’s stock worth $79,000 after acquiring an additional 1,012 shares during the last quarter. Atlas Capital Advisors Inc. purchased a new stake in Boyd Gaming in the fourth quarter valued at $109,000. Finally, Quarry LP raised its position in Boyd Gaming by 94.5% in the fourth quarter. Quarry LP now owns 1,698 shares of the company’s stock valued at $123,000 after purchasing an additional 825 shares during the period. Hedge funds and other institutional investors own 76.81% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on BYD shares. Truist Financial lowered their price target on Boyd Gaming from $92.00 to $85.00 and set a “buy” rating for the company in a report on Tuesday, April 1st. Susquehanna upped their target price on shares of Boyd Gaming from $75.00 to $76.00 and gave the company a “positive” rating in a research report on Friday, April 25th. Mizuho lowered their target price on shares of Boyd Gaming from $86.00 to $83.00 and set an “outperform” rating for the company in a research note on Wednesday, April 23rd. Wall Street Zen cut shares of Boyd Gaming from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 27th. Finally, Morgan Stanley decreased their price objective on shares of Boyd Gaming from $75.00 to $72.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 16th. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, Boyd Gaming currently has a consensus rating of “Moderate Buy” and an average price target of $80.08.

Boyd Gaming Stock Up 0.3%

Shares of NYSE:BYD opened at $75.22 on Thursday. The firm has a market capitalization of $6.12 billion, a PE ratio of 12.09, a price-to-earnings-growth ratio of 4.46 and a beta of 1.26. Boyd Gaming Co. has a 1 year low of $51.62 and a 1 year high of $80.50. The company has a debt-to-equity ratio of 1.85, a current ratio of 0.82 and a quick ratio of 0.79. The firm’s 50-day moving average is $70.34 and its two-hundred day moving average is $72.08.

Boyd Gaming (NYSE:BYD) last announced its quarterly earnings data on Thursday, April 24th. The company reported $1.62 earnings per share for the quarter, beating analysts’ consensus estimates of $1.52 by $0.10. Boyd Gaming had a net margin of 14.70% and a return on equity of 35.97%. The firm had revenue of $991.57 million during the quarter, compared to analysts’ expectations of $976.38 million. During the same quarter in the previous year, the business posted $1.51 earnings per share. The business’s quarterly revenue was up 3.2% compared to the same quarter last year. Analysts predict that Boyd Gaming Co. will post 6.52 EPS for the current year.

Boyd Gaming Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 16th will be given a $0.18 dividend. The ex-dividend date is Monday, June 16th. This represents a $0.72 annualized dividend and a yield of 0.96%. Boyd Gaming’s dividend payout ratio is presently 11.75%.

About Boyd Gaming

Boyd Gaming Corporation, together with its subsidiaries, operates as a multi-jurisdictional gaming company in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana, Mississippi, Missouri, Ohio, and Pennsylvania. The company operates through Las Vegas Locals, Downtown Las Vegas, Midwest & South, and Online segments.